Economist and French lawyer, born in Bayonne (France) on May 1, 1933. In 1987 he was elected general director of the International Monetary Fund (IMF), a charge which was confirmed in 1996 for a further period of five years. After thirteen years at the head of this organization, on 9 November 1999 he resigned from his post for "personal reasons". One of the men who managed more money - seven billion pesetas a year - and more was power in the world.
He graduated in law at the Faculty of law of Paris and carried out postgraduate studies in economics at the Instituto de Estudios politicians at the National School of Administration (ENA). In 1960 he joined the Division of the Treasury of the Ministry of finance and Economic Affairs as a public administrator, where he remained for six years, until he joined the post of aggregate financial in the delegation of France to the European Economic Community (EEC) in Brussels. Two years later, in 1968, he returned to the Division of the Treasury of the Ministry of finance and Economic Affairs, on, occupying the positions of Assistant Director, in 1971; Deputy Director, in 1974; and director, in February 1982.
During this period of time in the Division of the Treasury, Camdessus chaired the meetings of the Paris Club - which brings together countries creditors - for six years, and was President of the Committee monetary of the European Economic Community (EEC) from December 1982 to December 1984. He was also, named Alternate Governor of the International Monetary Fund (IMF) by France in 1983 and Governor in 1984.
In August 1984 he was appointed Deputy Governor of the Bank of France, and he became Governor of that institution in November 1984, in which remained until December 1986, he was appointed managing director and Chairman of the Executive Board of the International Monetary Fund (IMF). Confirmed in his position at the head of the IMF on September 30, 1991, he officially started his new term on January 16, 1992 and on this occasion it was extended for another five years by the 22 members of the Executive Board of the Agency. On May 22, 1996 Camdessus was re-elected again director of the Monetary Fund for a new period of five years, so it will come from this post (third term) in the 21st century.
At the head of the IMF, Camdessus has played a predominant role in the search for solutions to the external debt suffered by the countries of Latin America, aid to Mexico to overcome its financial crisis, and the encouragement of a rapid reform of Russia to reach a capitalist system. In addition, during the past two years (1995-1996) designed a plan to keep the IMF at the center of the global economic system as main guarantor and supervisor of the various Governments that carry out healthy economic policies. Its basic theory is that the types of interest, aside from inflation, cannot be higher than the growth of the gross domestic product (GDP). Maximum is a commandment for many countries.
It is in possession of numerous awards, including that of Knight of the order of merit and the cross of military value. Camdessus is married to Brigitte D'Arcy and father of six children.